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MANUFACTURING-
#1- Al Ghurair Foods broke ground on its corn starch factory in the Khalifa Economic Zones Abu Dhabi (Kezad), Wam reported. The factory’s output will include native and modified starches, glucose syrups, and maltodextrin, which are used in food and beverages, and pharma industries, among others. The facility’s initial capacity for corn processing will be 650 tons a day, with the potential of scaling it up to 1k tons.
#2- Gstar to set up solar manufacturing plant in the UAE: Singapore-based solar manufacturer Gstar Solar inked an MoU with a consortium comprising UAE-based investment firm Siraj Group, Galaxico and Stark Consulting, to build a 2 GW solar module assembly plant in the UAE, it said in a statement. Construction on the plant will kick off in November, with the move expected to drive Gstar’s strategic presence in the Middle East, particularly in the UAE.
#3- Abundance to build a solar panels factory in Kezad: Abundance Solar Panels Industries secured a 50-year ground lease agreement with Khalifa Economic Zones Abu Dhabi (Kezad) to build a AED 55 mn solar panels factory in Area A (Al Ma’mourah), according to a statement from Kezad. The plant’s capacity was not disclosed.
ENERGY-
Adnoc is deploying its AI-powered process optimization platform Neuron 5 across all its facilities, following a successful pilot phase where the system was tested in some of the company’s onshore and gas facilities, a statement from Adnoc showed. The pilot phase results showed that the system could reduce unplanned shutdowns by 50% and improve planned maintenance intervals by 20%.
About Neuron 5: The predictive maintenance platform uses AI to monitor the performance of critical equipment and boost its operational efficiency, reducing the need for manual inspections.
AVIATION-
Flynas gears up to add five new routes to the UAE: Saudi budget airline Flynas is introducing five new routes connecting Riyadh, Madinah, and Jeddah to Dubai, Abu Dhabi, and Sharjah next month, according to a statement from the carrier. The routes include flights from King Khalid International Airport in Riyadh to Dubai; King Abdulaziz International Airport in Jeddah to Abu Dhabi and Sharjah; and Prince Mohammad bin Abdulaziz International Airport in Madinah to Sharjah, kicking off on 1 September. A route from the Madinah airport to Abu Dhabi will launch on 2 September.
The expansion will increase the number of routes between the two countries to nine, from four currently.
INFRASTRUCTURE-
Sharjah is upgrading its road network: The Sharjah Executive Council (SEC) greenlit several infrastructure projects, collectively worth AED 111.6 mn, Wam reports. The projects include:
- Paving internal roads in Al Qarayen 3 and 5 areas, at costs of AED 34.2 mn and AED 12.4 mn;
- Developing Martyr Sultan bin Mohammed bin Howaiden Street in Al Dhaid to extend 7.2 km from Al Hisn Square to Washah Square, at a total cost of AED 65 mn.
The council also approved setting up a camel market in Al Dhaid to support economic growth and help preserve the region’s social heritage.
BANKING-
Mbank streamlines account opening for businesses in Rakez: Emirati digital bank Al Maryah Community Bank (Mbank) signed an MoU with Ras Al Khaimah Economic Zone (Rakez) to facilitate account opening procedures for businesses operating in Rakez, Wam reported.
REGULATION-
DIFC to work with other regulatory authorities on data security regulations: Dubai International Financial Centre (DIFC) was inducted into the Global Cross-Border Privacy Rules (CBPR) Forum by the Global Forum Assembly (GFA) as an associate member, becoming the first in the Middle East to be granted this status, it said in a statement. The new status will allow the DIFC to cooperate with other regulatory authorities on regulations around flows, the statement said.
ICYMI- The financial center was accepted as a participant in the Global Cooperation Arrangement for Privacy Enforcement (CAPE) in April.
EDUCATION-
Trends to offer Geneva School-accredited programs under a new partnership: The Trends International Training Institute, a subsidiary of Trends Research and Advisory, partnered with the Geneva School of Diplomacy and International Relations to launch training programs accredited by the Swiss school, Wam reported.
The programs offered under the partnership include the Certificate of International Relations and the Certificate of Advanced Studies in International Relations. The partnership will also see both sides collaborate on developing joint research programs and publishing specialized academic papers.
SUSTAINABILITY-
Dubai launches ESG label for businesses: Businesses and organizations that have been established for at least two years can now apply for the new environmental, social, and governance (ESG) label launched by the Dubai Chamber of Commerce, according to a statement from the chamber. The label indicates a commitment to local and international ESG practices.
LOGISTICS-
#1- Eanan wraps up flight test for its heavy cargo drone: Dubai-based air mobility solutions firm Eanan completed the test flight for its heavy cargo drone Rikaz, a statement from the company showed. The all-electric vertical take-off and landing (VTOL) drone has a maximum payload capacity of 200 kg.
#2- Dubai inches closer to launching drone delivery service: The Dubai Municipality wrapped up the second phase of the drone delivery project Dubai Horizons, it said in a post on X. This phase aimed to introduce a low-altitude airspace requirement into building regulations, build 3D geographic information systems (GIS) for vertical airport sites analysis, and improve the universal transverse mercator (UTM) coordinate system for the city.
About the project: The project, whose first phase was completed last year, seeks to create a complete infrastructure for drone systems in Dubai.
INVESTMENT-
Aurem receives ADGM license: Aurem, the UAE’s first unified workplace wealth and benefits technology platform, was licensed by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) yesterday, according to a statement from ADGM. Aurem obtained a license allowing it to conduct regulated investment service activities, facilitate transactions involving various financial products, and operate investment platforms.
CRYPTO-
CoinDCX expands its UAE presence: Okto, a self-custodial wallet under India’s first crypto unicorn, is set to offer its services in the UAE, after securing an operational license from the Ras Al Khaimah Digital Assets Oasis, Coin Telegraph reports. Okto is the first Web3 wallet to bag this license in the RAK digital assets oasis freezone.
Refresher: Last month, CoinDCX acquired 100% of Dubai-based platform BitOasis for an undisclosed sum. CoinDCX had already invested an undisclosed sum in the crypto firm in August 2023.
EVs-
Loop Global sets up shop in Abu Dhabi: US-based electric vehicle (EV) charging solutions provider Loop Global opened a regional office in Abu Dhabi, aiming “to use Abu Dhabi as a base for [its] regional expansion,” according to an Abu Dhabi SME hub statement. The company — which is backed by ADX-listed Agility Global — plans to hire locally, and potentially establish manufacturing and R&D activities in the emirate.
